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uranmaximum [27]
3 years ago
11

While Mary Corens was a student at the University of Tennessee, she borrowed $8,000 in student loans at an annual interest rate

of 9%. If Mary repays $1,600 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round your answer to the nearest whole number.

Business
1 answer:
Papessa [141]3 years ago
6 0

Answer:

6.93 years

Explanation:

For computing the number of years we use the NPER formula i.e to be shown in the attachment

Given that

Present value = $8,000

Future value = $0

Rate of interest = 9%

PMT = $1,600

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after applying the above formula, the number of years is 6.93 years

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Suppose the federal reserve wants to decrease the money supply by $400 billion. if the reserve requirement (rr) is 0.2, calculat
svetlana [45]

Two main modifications be made to guard the public, avoid bank bailouts, and expand banking protection and soundness.

<h3>What is the change in required reserves?</h3>

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<h3>What are the three dreams of the Federal Reserve?</h3>

It is the Federal Reserve's actions, as a central bank, to acquire three dreams distinct by using Congress: maximum employment, secure prices, and average long-term hobby rates in the United States.

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4 0
2 years ago
Safety and self-actualization are examples of __________. a. credibility appeals b. emotional appeals c. persuasive appeals d. l
tekilochka [14]
<span>Safety and self-actualization are examples of emotional appeals. An emotional appeal is a way of persuasion that has been used to receive an emotional response from people. In a court room, someone could try and win an argument with the judge or another person by using the emotional side of things to get a reaction from the opponent and/or audience. </span>
3 0
3 years ago
Read 2 more answers
Sherry is known for being very task oriented in her approach to manage subordinates. Which at the following statement is noot li
Furkat [3]

Answer:

a. She tends to work to develop trusting relationships with subordinates.

Explanation:

since in the given situation it is mentioned that sherry to be called as the very task oriented person in order to manage the subordinates so as per the given situation the first option is correct as it is not describe her behavior that she develop the relationship with the subordinates in a trust worthy way

So the option a is correct

6 0
3 years ago
Are monopolistically competitive firms efficient in​ long-run equilibrium? Monopolistically competitive firms A. are productivel
Margaret [11]

Answer:

E)are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost.

Explanation:

Monopolistic competition can be regarded as imperfect competition whereby many producers that are competing against each other exist in the market, though they are selling products which can be differentiated from one another. Monopolistically competitive firms do

maximize their profit if their production is at a level where marginal costs as well as its marginal revenues equals. Hence, monopolistically competitive firms are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost.

5 0
3 years ago
Onofkp411 Corporation has a time contraint on one of its special machines. The company makes three products that use this machin
marta [7]

Answer: $7.20 per minute

Explanation:

Find out the profitability of each product as Contribution Margin per minute.

Magnifico

Contribution margin per minute = (Selling price - Variable cost) / minutes on the constraint

= (335.18 - 259.26) / 7.5

= $10.12 per minute

Bellissimo

= (228.46 - 173.08) / 4.3

= $12.88 per minute

Lovely

= (199.21 - 159.61) / 5.5

= $7.20 per minute

Their least profitable product is $7.20 per minute.

The machine does not have sufficient time to satisfy the needs of Lovely so they will have to pay more to acquire more of the resource but they should not pay anything more than $7.20 per minute as this is their contribution margin for the product. and anything more would result in a loss.

<em>Options are most probably for another variant of the question. </em>

6 0
3 years ago
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